BTCUSD
Bitcoin is trading above the support zone of $100,000, and prices are likely to rise and retest the resistance zone at $103,000. This scenario would be invalidated if the aforementioned support zone is broken to the downside.
|
Support |
100000 | 97000 | 94000 |
| Resistance | 103000 | 103000 |
108500 |
Bitcoin saw a notable decline during today’s trading session, falling by approximately 4% to levels near $99,000, after having previously stabilized above the $103,000 mark. This drop comes amid escalating geopolitical tensions, prompting investors to reduce their exposure to high-risk assets such as cryptocurrencies and seek safer alternatives like the U.S. dollar. The global decline in risk appetite has also played a key role in pressuring Bitcoin prices toward significant technical support levels.
From a technical perspective, breaking below the $100,000 level is considered a bearish signal in the short term, increasing the likelihood of further declines toward the $97,000 – $94,000 range. Conversely, if the price manages to recover above $101,500 and break through the $103,000 resistance again, we may see an attempt to regain upward momentum. Overall, Bitcoin’s performance this week remains closely tied to global market developments, particularly monetary policy decisions and regional geopolitical tensions.
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